Technical Analysis: Bulls Get Tested
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The S&P (first chart below) turned a little wobbly today, but managed to hang onto its recent breakout by the close. However, if the futures are any indication, the index could gap over that support tomorrow morning. Below 1282, the next support levels are 1270, 1260 and 1246-1250. Resistance will likely be 1282-1287 and 1295. The Dow (second chart) gave up 10,920-10,950 support, which is now first resistance. Next support is 10,800-10,830. The Nasdaq (third chart) has support at 2280-2290, 2260, 2250 and 2240, and resistance is 2300-2305 and 2328-2333. At least bonds (fourth chart) are behaving well.